I have filled return for partnership firm in fy 2018-19 under 44AD. Can I show income below 6% ( Turnover is less than 50lakh) in ITR 3 for FY 2019-20.
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ITR 19-20 FOR income below 6% & turnover below 1 crore
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Quick Summary
If you show profit less than 6% of turnover then tax audit will be applicable
Minimum 6% (digital turnover) and 8% (cash turnover) you need to declare to take benefit of 44AD
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